If Trump was a Democrat, this would be VERY exicting news! As it is, it is awfully muted. As US News says though:
It is good to remember that one of the reasons for NOT voting for Trump was "econmic disaster". Over at the NY Times on election night when market futures went down, former Enron advisor and Nobel prizewinner Paul Krugman was certain they were going down and never coming up.
But the achievement wasn't tough to see coming, considering stocks have boomed in the aftermath of President Donald Trump's electoral victory. The Dow has climbed more than 1,600 points since Election Day – up more than 9 percent over the course of a little less than two months.
It really does now look like President Donald J. Trump, and markets are plunging. When might we expect them to recover?
Frankly, I find it hard to care much, even though this is my specialty. The disaster for America and the world has so many aspects that the economic ramifications are way down my list of things to fear.
Still, I guess people want an answer: If the question is when markets will recover, a first-pass answer is never.The Times advertises all the time as "Truth" -- in this age of "fake news", one wants hard hitting accurate reporting from experts like Krugman!
He isn't the only one ... poor muti-billionaire George Soros managed to lose one of his billions betting against Trump markets, and a lot of millions supporting Hillary and other left wingers.
Ah yes, things that make you go "boo hoo".
Does this mean that presidents make markets? Certainly not before they are elected, no ... we are talking "sentiment" here. In the long run? Well, that is why we have the sentiment -- while Hillary was the darling of Wall Street and the wealthy, Trump has promised to bring back some economy for the little folks.
If he can follow through on that remains to be seen, but people are voting again with their money and driving the markets up at this point, while the elite wealthy like Soros are unhappy and grumpy.
'via Blog this'